The business environment and stakeholder preferences change in subtle to seismic ways. In a dynamic board environment effective governance is crucial for the long-term success of a business. There isn’t a single solution that will work for everyone, but the most successful boards use proven approaches to gauge, guide and improve the efficiency of their board.

These best practices include a clearly-defined evaluation process, a development of the board culture, and digital tools to increase efficiency and transparency. These tools and techniques allow you to evaluate the effectiveness of the board in its function as trustee, fiduciary and representative for the company. They also encourage collaboration among directors.

Board members must commit their time to the assessment and provide honest feedback. Boards should agree at the outset on the objectives of the assessment and allocate time to discuss and agree on these goals. Boards can use a board portal http://yourboardroom.net/ceo-vs-chairman-vs-president-responsibilities for directors to easily share ideas and information, and track progress towards goals.

Another crucial aspect to take into consideration is the structure and composition of the board. This includes the size of a board and the number of committees formed, as well as the frequently those committees meet. Make sure that the committees are the appropriate size to manage their workload, and that they are focused on the long-term values of the company.

It is also important that the chair is able to facilitate productive discussions and decision-making processes. This includes the chair’s communication and relationship-building skills with the board, other directors, and management. In addition, the chair should be open to constructive feedback on the way they lead.